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tv   Anderson Cooper 360  CNN  July 15, 2011 1:00am-1:05am EDT

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now here's "anderson cooper 360" good evening, everyone. we begin tonight with breaking news. late new details from inside today's debt crisis meeting. headline one, no agreement today. headline two, no meeting tomorrow after five straight days it's the end of the line for now. and headline three, the warning bells keep getting louder from the heart of capitalism to the capital of communism. standard & poors today signalling it may downgrade u.s. debt even if a default is averted. and the people's republic of china, red china, urging washington to raise the debt ceiling. somewhere chairman mao is smiling. president obama went on record with his account of how last night's turbulent meeting ended. you'll recall house majority leader cantor said the president told him not to call his bluff, said "i'll see you tomorrow" and walked out of the cabinet room. >> look, at the end of the meeting after we'd already met for a couple of hours, what i said to the group was what i think the american people feel,
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which is we have a responsibility to do the right thing. we shouldn't be overly partisan. we shouldn't be posturing. we should solve problems. >> whichever account rings true to you, today's meeting was the first to deal with largely revenue. we got insight in a moment from gel ca yellin and gloria borger. there's new polling you should know about that mayed is prize you, showing what americans really think about raising taxes to close the budget gap. here's what republicans have been saying for a long time that americans think. >> right now this economy is ailing. and we don't believe, nor do i think the american people believe, that raising taxes is the answer. >> american people understand that tax hikes destroy jobs. >> i think what the american people appreciate is that you don't reinvigor ate the economy by raising taxes. >> 80% of the american people do not want to see taxes raised.
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>> the president's answer? let's raise taxes on job creators. mr. president, the american people don't want that. >> the american people don't want us to raise taxes. >> now, you can agree or disagree with the premise that taxes ought to be lower and government smaller. that's not what we're talking about. keeping them honest when republicans say they are pushing for a budget deal containing no tax increases because that's what most americans want, according to every poll we have found that is simply not true. new poling out today asked voters if they support a budget deal with budget cuts only or a mix of cuts and taxes on corporation and the wealthy. just 25% said cuts only. 67% favored a mix. if you break it down further, 48% of republicans, not even a majority, favor the cuts only approach. and in a recent gallup poll, look at the first line, only 26% of republicans favored lowering the debt with budget cuts alone. just 20% of all voters did. in fact, all of the recent polling we've seen shows
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americans want a mix of spending cuts and tax increases. that goes for polling from gallup, kwun pie ack, abc news, "washington post," bloomberg, reuters and uscla times. we're now negotiating today and why it won't happen tomorrow. we'll talk to jaimt james carville and carley fiorina. jessica yellin has details as does gloria borger. >> the president says he still wants the biggest deal possible. still no deal. where do things stand right now? >> after five days of negotiations and almost eight hours of discussions, practically speaking they are no further along than they were when this thing started last sunday. as you say, the president has said he wants this big deal, but this thing broke up today. the meeting ended with the president telling these leader toss go back to their members and ask them what do they think can pass and then report back to the president with something that they believe can pass by this saturday morning. they're not even having a meeting tomorrow. now, despite all that, i am told
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by my sources that there's not a lot of optimism that this particular negotiating process here at the white house is going to actually end up lead together real deal, and a lot of effort and attention is now turning to a different process that's happening in the u.s. senate and another all the ate deal that's being worked out between the two senate leaders that could instead end up raising the debt ceiling. a lot of hope is centered there, anderson. >> basically what is that deal, that negotiation based on? harry reid and mitch mcconnell? >> reid-mcconnell deal. it would effectively raise the debt ceiling in a negative vote which would allow for spending cuts that can be spelled out by the president but don't necessarily have to pass. there would also be a deficit commission that would allow for other spending cuts and also potential revenue elements and entitlement reforms. and it would allow people to vote against raising the debt ceiling instead of in favor of
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raising the get ceiling so that members could then go to their voters and say, i voted no instead of i voted yes. >> so gloria, why is there this separate track now? i mean, what's been point of these white house meetings? >> well, you know, it's interesting. because i spoke with one republican leadership aide to echo what jess said. he set look at maybe what the white house talks are becoming increasingly irrelevant here. because if you're a member of congress and you get to have it both ways and you get to vote no on raising the debt ceiling but then the debt ceiling passes, why not do that? if they can come up with that kind of a deal? the only problem with that is, and the big question is, i